August 24, 2012 / 5:33 PM / 6 years ago

Citadel's Runnfeldt to retire from hedge fund

BOSTON (Reuters) - Jeffrey Runnfeldt, one of the trio that has overseen Citadel LLC’s global equities unit, is leaving the hedge fund at the end of the month.

Runnfeldt, 46, is retiring, Citadel spokeswoman Katie Spring said in an email.

Together with Brandon Haley and Steve Weller, Runnfeldt has run Citadel’s global stocks group since 2009 when the Chicago-based hedge fund reorganized how it invests in stocks. Haley and Weller are still running the group.

Runnfeldt, who was based in San Francisco, joined Citadel in 2002.

During the first seven months of the year, Citadel’s flagship Kensington and Wellington funds were up about 11 percent, handily beating the Hennessee Hedge Fund Index which gained 2.78 percent through July, an investor in the Citadel funds said.

Through the middle of August Citadel’s Global Equities LLC fund was up roughly 10 percent, according to the investor, while the Standard & Poor’s S&P 500 Index is up 11.5 percent.

The hedge fund oversees $12.8 billion in assets and was founded by Kenneth Griffin, who launched Citadel Asset Management in 1990.

Reporting by Svea Herbst-Bayliss; Editing by Leslie Gevirtz and Kenneth Barry

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